[Code of Federal Regulations]
[Title 25, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 25CFR39.55]

[Page 178-179]
 
                            TITLE 25--INDIANS
 
     CHAPTER I--BUREAU OF INDIAN AFFAIRS, DEPARTMENT OF THE INTERIOR
 
PART 39_THE INDIAN SCHOOL EQUALIZATION PROGRAM--Table of Contents
 
           Subpart D_Direct Allotment of Formula Entitlements
 
Sec. 39.55  Responsible local fiscal agent.

    The responsible fiscal agent shall:
    (a) Expend funds solely in accordance with the local educational 
financial plan, as ratified or amended by the local school board, unless 
in the case of Bureau operated schools, this plan has been overturned 
under the appeal process prescribed in these rules, in which case 
expenditures shall be made in accordance with the local educational 
financial plan as determined by the Agency Superintendent of Education.
    (b) Sign all documents required for the obligation and or payment of 
funds

[[Page 179]]

and documentation of receipt of goods and services.
    (c) Report at least quarterly to the local school board on the 
amounts expended, amounts obligated and amounts currently remaining in 
funds budgeted for each program of services in the local financial plan.
    (d) Recommend changes in budget amounts, as required for effective 
management of resources to carry out the local financial plan, and 
incorporate such changes in the budget as are ratified by the local 
school board, subject to provisions for appeal and overturn.